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A bi-modal inventory study with random lead times

by: Washburn, Alan R.

Publication date: 1973-09

Topics: NAVAL POSTGRADUATE SCHOOL (U.S.)--CONGRESSES., TURBOMACHINES--FLUID DYNAMICS CONGRESSES.

Publisher: Monterey, California : Naval Postgraduate School

Collection: navalpostgraduateschoollibrary; fedlink; americana

Contributor: Naval Postgraduate School, Dudley Knox Library

Language: en_US

Title from cover

"September 1973"--Cover

"NPS-55WS73091A"--Cover

Author(s) key words: Inventory, lead time, air freight

Includes bibliographical references (p. 21)

Technical report; 1973

A single-product continuous review inventory problem is formulated and solved. The chief virtue of the formulation is that the probability distribution of lead times is general. It is found that the optimal order size differs from the Wilson EOQ when holding costs or deterioration rate (both are lumped into a single discount rate) are large, and that it may even be a non-unique quantity. The second (fast) shipment mode enters in the same manner as a stockout cost. (Author)

kmc/kmc 9/14/09